Marketplace
900 episodes - English - Latest episode: about 1 month ago - ★★★★★ - 7.5K ratingsEvery weekday, host Kai Ryssdal helps you make sense of the day’s business and economic news — no econ degree or finance background required. “Marketplace” takes you beyond the numbers, bringing you context. Our team of reporters all over the world speak with CEOs, policymakers and regular people just trying to get by.
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Episodes
Let’s talk about (banking) trust issues
March 27, 2023 21:09 - 29 minutes - 11.8 MBBank regulators will be heading to Capitol Hill this week, where they’re likely to be grilled by lawmakers over the recent banking turmoil. But they also have to reassure markets and the public that everything’s going to be all right — because if depositor fears escalate, that could spawn yet another crisis. Plus, it’s boom time for certificates of deposit, and anxiety about commercial real estate loans looms over regional banks.
Attention turns to bank examiners in SVB fallout
March 24, 2023 21:10 - 28 minutes - 11.8 MBThe Federal Reserve will release a report by May 1 on what happened at Silicon Valley Bank. A key part will be how bank examiners, the government employees who monitor a bank’s safety and soundness, supervised SVB. Today, we’ll look at what a bank examiner does — and doesn’t. We’ll also map new home sales and head back to college with some midlife students.
Happy rate hike-iversary!
March 23, 2023 22:50 - 28 minutes - 11.8 MBLong gone are the good ol’ days when inflation was described as “transitory.” This month marks one year since the Federal Reserve started raising interest rates to curb inflation, and we chart the relationship between rates and prices, and take stock of where we are. Plus, why some central banks follow the Fed’s lead and how small businesses are responding to banking turmoil.
The Fed’s stress testing is put to the test
March 22, 2023 22:38 - 29 minutes - 11.8 MBOne way the Federal Reserve oversees the banking system is through “stress tests,” which help determine whether banks can withstand economic disasters. But only the biggest banks are required to undergo these tests. Could Silicon Valley Bank’s collapse change that? We’ll also unpack Fed Chair Jerome Powell’s rate hike remarks, check to see who’s currently hiring and gauge reactions to anticipated charges for COVID-19 vaccines.
Why bond prices fall as interest rates go up
March 21, 2023 22:56 - 29 minutes - 11.8 MBA simple economic phenomenon — that rising interest rates push bond values down — is part of what has weighed on financial companies like Silicon Valley Bank. We’ll take a closer look at the relationship and examine how the Federal Reserve’s rate hikes may have contributed to the current banking drama. Then, we’ll hear why the lowest rents are rising the fastest and what the end of additional SNAP benefits means for one mother.
Let the bank failure blame game begin
March 20, 2023 21:50 - 29 minutes - 11.8 MBThe debacles that engulfed Silicon Valley Bank and other precarious financial institutions have sparked debates over who dropped the ball. Was it a regulatory failure, a supervisory failure, or both? On today’s show, we’ll parse out the answer. We’ll also explore what comes next for Swiss banking, what a Supreme Court case means for Navajo water rights and what small banks are doing to address liquidity concerns.
When group chats help fuel bank runs
March 17, 2023 23:11 - 28 minutes - 11.8 MBBack in the ’30s, news of bank collapses traveled slowly. But in the early hours of Silicon Valley Bank’s collapse, the news spread like wildfire through startup messaging chains on WhatsApp, Slack, Signal and Telegram. Today, how rumors and anxiety contributed to SVB’s downfall. Plus, grocery bills bum consumers out more than banking meltdowns and China’s population decline has far-reaching repercussions.
The forecast calls for tightening financial conditions
March 16, 2023 21:24 - 29 minutes - 11.8 MB“Financial conditions” influence the cost of money, and they’re being made much more complicated by recent bank collapses. Today, we’ll delve into how tightening financial conditions influence the Federal Reserve’s next moves and could make it harder for small businesses and consumers to get loans. Plus, why COVID may have fundamentally reshaped how we spend and what the Silicon Valley Bank collapse means for venture capital.
Credit Suisse turmoil stokes financial contagion fears
March 15, 2023 22:54 - 28 minutes - 11.8 MBFollowing the meltdowns of Silicon Valley Bank and Signature Bank, Europe’s Credit Suisse is now in trouble. Though the Swiss bank’s problems predate the recent U.S. bank failures, some economists are asking whether the malady at Credit Suisse can or will infect the rest of global finance. We’ll also take a closer look at the role of regional banks and the communication tactics some are using to quell customer anxieties.
Where does banking oversight go from here?
March 14, 2023 23:18 - 29 minutes - 11.8 MBAs we follow the implosion of Silicon Valley Bank, we’ll examine the parties involved in regulating finance — both state and federal — and what changes may emerge from the meltdown. We’ll also check in with a former Federal Reserve official who oversaw reforms and ask him to chart a path forward for Washington. Plus, shelter costs continue to drive inflation and cowhides help predict the economic future.
Silicon Valley Bank collapsed … now what?
March 13, 2023 21:32 - 28 minutes - 11.8 MBAdd the spectacular collapses of Silicon Valley Bank and Signature Bank to the lengthy list of consumer concerns. Bank failures like these don’t just rattle their depositors, they stoke anxiety in everyone who hears about them. Today, we’ll feature special coverage of SVB’s demise — how Washington is responding, the ripple effects on other banks and what it all means for average consumers.
Is the unemployment system prepared for a recession?
August 04, 2022 23:17 - 26 minutes - 11.8 MBDuring the height of the pandemic, state-run unemployment systems struggled to support applicants. Though states are investing in upgrades, benefits vary widely and the technology remains outdated. Now, as the job market cools and jobless claims rise, labor economists worry whether the unemployment system is equipped for another onslaught. Plus, Instagram’s shift to video challenges art entrepreneurs and FX’s “The Bear” aces the drama of restaurant work.
What is OPEC thinking right now?
August 03, 2022 23:45 - 27 minutes - 11.8 MBOPEC+ recently pledged to boost oil production by 100,000 barrels a day. Though it sounds like a lot, it likely won’t temper high oil prices much and may indicate that the oil cartel expects a dip in demand and a potential recession. Plus, credit card debt is on the rise, a new era of TV centers on Native people and Germany’s reliance on Russian oil stokes economic anxieties.
Supply chain déjà vu
August 02, 2022 23:34 - 28 minutes - 11.8 MBThe shipping industry has enjoyed buoyant profitability lately. But today’s supply chain looks a lot like last year’s. That is to say … not great. In today’s show, we’ll find out why history is repeating itself. Plus, refiners are doing well despite the slide in gasoline prices, and we take a trip to HP’s ink cartridge recycling plant.
The global factors behind your grocery bill
August 01, 2022 23:33 - 27 minutes - 11.8 MBWe probably don’t need to tell you groceries are more expensive lately. As the first shipment of grain leaves Ukraine since Russia invaded, we’ll take stock of the global factors driving costs at the store. Plus, how Taiwan became the center of semiconductor manufacturing and why oil companies aren’t drilling on those 9,000 new leases.
Evictions climb to pre-pandemic levels
July 29, 2022 23:02 - 27 minutes - 11.8 MBLess than a year ago, the Supreme Court overturned a nationwide eviction moratorium. Now, with inflation at a multidecade high and rents rising, eviction filings have reached pre-pandemic levels. Today we explore the impact on the hardest-hit communities and the government’s role in addressing the crisis. Plus, Congress gets into the fight against inflation, and inflation enters salary negotiations.
Don’t sound the recession alarms yet
July 28, 2022 23:21 - 27 minutes - 11.8 MBWe’ve said it before, and we’ll say it again: Two consecutive quarters of shrinking gross domestic product do not necessarily spell recession. Today, we’ll take a big-picture view of what the GDP report does and doesn’t tell us about the strength of the American consumer and the overall economy. Also on today’s show: a potential electric vehicle tax credit and a pay increase for job switchers.
America is out of office
July 27, 2022 23:29 - 27 minutes - 11.8 MBIf it feels like everyone’s out of office right now, it’s because a lot are on vacation or out with COVID-19. The absences are forcing businesses to scramble and serve as a reminder that workers are rethinking work-life balance and that the pandemic still runs this economy. Plus, unpacking that interest rate hike, looking at slowing ad spending and checking in on a cooling housing market.
Strong but stressed
July 26, 2022 23:15 - 27 minutes - 11.8 MBAs the Fed eyes another rate hike, two economic indicators look as though they might be teetering. The labor market remains strong but is slowing and unemployment is ticking up. Meanwhile, consumers are still buying plenty of stuff, but slipping confidence could hint at a pullback in spending. Also on today’s program: Hearst’s CEO talks about the surprising publications that buoyed the company, and we look into Kindle and Airbnb’s exit from China.
Take GDP data with a grain of salt
July 25, 2022 22:53 - 27 minutes - 11.8 MBWe’re going to be getting gross domestic product and a slew of other economic data this week. While GDP numbers may show that the economy is contracting, a broader range of measures determine whether we’re in a recession. Today, we’ll dig in. Plus, supply chain issues refuse to let up, and bans complicate access to abortion care training.
Man, it’s a hot one
July 22, 2022 23:15 - 28 minutes - 11.8 MBExtreme heat is driving up the price of natural gas in the U.S., but energy woes are hitting across the pond too. The European Union is asking everyone from factories to families to cut back on natural gas use, but cross-country cooperation is proving difficult. We’ll talk about both stories today. First, a recap of the economic week that was.
Planes, trains and automobiles
July 21, 2022 23:16 - 28 minutes - 11.8 MBThe new subvariant and President Biden’s diagnosis show that COVID-19 isn’t done with us yet, even if a lot of things feel “back to normal.” Are we on our way out of the pandemic, or is this the new normal? We asked a few experts. Also in this episode, a transportation trifecta: corporate air travel makes a comeback, freight rail faces complications and used cars are (hopefully) returning to pre-pandemic prices.
Europe’s concurrent crises
July 20, 2022 23:20 - 27 minutes - 11.8 MBWhile a deadly heat wave bakes Europe, the continent faces multiple economic predicaments as well. It’s prepping for a potential natural gas cutoff as tensions with Russia remain high. Inflation is also running rampant and expected interest rate hikes are stoking fears of another debt crisis. Plus, the party’s over for some companies that reaped pandemic profits, and regulators look to reimburse victims of money-transfer app scams.
It’s brutal out here
July 19, 2022 23:08 - 27 minutes - 11.8 MBIf you’re a prospective homebuyer, you know that the housing market is — in a word — brutal. Though the market is showing signs of cooling, fewer homes are being built and rising mortgage rates continue to push ownership out of reach for many. Also in this episode, China reduces its U.S. debt holdings, small businesses still feel supply chain pinches and grocery stores market their way around rising prices.
Floods and droughts
July 18, 2022 23:04 - 29 minutes - 11.8 MBWe have a few stories about economics and water for you to ponder today. First, we’ll look at schools trying to rebuild on higher ground after deadly flooding. Then, case studies in California show how desalination can fight off another major drought. Plus: What bank earnings tell us about the state of the economy and why homebuilders are feeling down right now.
New crisis hotline, same old problems
July 15, 2022 23:16 - 28 minutes - 11.8 MBStarting Saturday, anyone in the United States undergoing a mental health crisis can seek help by dialing 988. But mental health advocates are already overwhelmed, and they’re now concerned that the crisis line is being launched before it has enough funding or counselors. Plus, CPI sorrows in the Weekly Wrap, a consumer spending spree and the unionization boom. If you or someone you know is struggling with suicidal thoughts, anxiety or depression, call the National Suicide Prevention Lifeli...
Why you should care when a major bank stops buying its own stock
July 14, 2022 23:39 - 27 minutes - 11.8 MBWhen companies have extra cash, they may use it to build facilities, hire employees or purchase their own stock. But JPMorgan reported disappointing financial results today and said it would suspend its stock buybacks, which some economists interpret as a Wall Street behemoth prepping for an impending recession. Plus, higher interest rates hit homebuilders, Shanghai businesses tally the COVID lockdown’s costs and schools get creative to address hiring headaches.
Where is “broad-based” inflation headed?
July 13, 2022 23:29 - 27 minutes - 11.8 MBOdds are you’ve seen the eye-popping figure by now: Year-over-year inflation clocked in at 9.1% in June. Those price increases are pretty much everywhere you turn in this economy. Today, we’ll take a look at where prices head from here and what it all means for the Federal Reserve. Plus, the hurdles in the way of a Russian oil price cap and why the role of college rankings may be changing.
Rising interest rates don’t spell relief for renters
July 12, 2022 23:25 - 29 minutes - 11.8 MBWe’ve seen hints that the Federal Reserve’s interest rate hikes may be cooling the housing market. But rent prices are still climbing across the country, and higher interest rates may not rein in rent costs for more than a year. And later, war in Ukraine fuels global hunger, inflation comes for Hollywood productions and some try to beat confusing credit score algorithms.
What’s up with the Texas power grid?
July 11, 2022 23:24 - 28 minutes - 11.8 MBPepsiCo and JPMorgan, among other large companies, are releasing their quarterly results this week. Inflation may not have flattened bubbly soda sales, but analysts will be listening to what bank executives say about a possible economic slowdown. Also: expanding the baby formula market, gasoline inflation reaches remote Alaska, and what’s up with the Texas power grid?
The economy is sending mixed signals
July 08, 2022 23:20 - 27 minutes - 11.8 MBThough fears of a recession persist, there’s plenty to be happy about in today’s hiring report: Manufacturing employment has returned to pre-pandemic levels, and the number of people forced to work part-time because they can’t find full-time gigs is way down. But high child care costs are still keeping women on the sidelines of the economy. Later, a special designation for an English county’s wine leaves a bitter taste in the mouths of some.
All eyes on the jobs report
July 07, 2022 23:04 - 27 minutes - 11.8 MBTomorrow’s jobs report will provide a snapshot of employment in this country. The Federal Reserve will be keen to dig into it as it eyes additional interest rate hikes, and at least one Fed official sees a labor market strong enough to handle them. Job openings have been plentiful, but staffing agencies say demand for workers is already cooling in some industries. Plus, hints of a stabilizing rental market and the changing definition of a recession.
That “inflation relief” money could drive prices higher
July 06, 2022 22:39 - 28 minutes - 11.8 MBRoughly a dozen states are giving out tax rebates to ease the impact of inflation on their residents. Some economists are critical, saying more money to spend could make the problem worse. Plus, how long it’ll take to see oil from drilling on federal lands, how credit score algorithms exacerbate inequality and who ultimately foots the bill for a new Walmart transportation fee.
Could a recession be another nail in the coffin for office space?
July 05, 2022 22:52 - 27 minutes - 11.8 MBOil prices fell and Treasury bond yields inverted today — hints that the U.S. economy may be heading for a downturn. And as revenue-challenged companies look to cut costs in the era of remote work, physical office space may get a pink slip. Plus, President Biden weighs tariff options, airlines reel from staffing shortages and shellfish producers grapple with ocean acidification.
Land of the free, home of high prices
July 04, 2022 22:55 - 27 minutes - 11.8 MBThere may be an unwanted guest at your Fourth of July celebration this year: rising prices. Today, we take a look at how inflation shaped the holiday weekend — from your fireworks to your travel. We’ll also check the pulse of the housing market, examine a potential culture clash at Unilever and attend an aerial firefighting training.
With abortion travel benefits comes privacy concerns
July 01, 2022 23:30 - 27 minutes - 11.8 MBSome companies have pledged to cover travel expenses related to abortion care following the overturning of Roe. Providing those benefits is one thing, but protecting employee privacy and ensuring that workers feel comfortable using them is another thing entirely. Plus, recession risks and a glut of goods in the Weekly Wrap, and a look at the war between crypto miners and environmentalists.
Today’s Supreme Court decision is about more than the EPA
June 30, 2022 23:29 - 28 minutes - 11.8 MBToday, the Supreme Court issued a ruling that limits the Environmental Protection Agency’s authority to cap emissions. But the move will also restrict other federal agencies’ policymaking powers. We’ll examine how this decision will shape how the economy is run and regulated — in areas as varied as COVID and crypto. Plus, why consumer spending is slowing, what different inflation measures tell us and why tribal lands aren’t abortion access loopholes. Your donation powers the journalism you ...
How one state is prepping to be a haven for abortion access
June 29, 2022 23:29 - 28 minutes - 11.8 MBAs some states curtail abortion care, others are moving in the opposite direction. Today, we take a trip to Maryland, where a new law expands the number of workers able to perform abortions as providers in the state anticipate a surge in demand. Plus, ports work to ease shipping congestion, federal funding for COVID treatments dwindles and Hong Kong’s reputation as a global financial hub shifts. Your donation powers the journalism you rely on. Give today to support Marketplace.
It’s a flipper’s market
June 28, 2022 22:59 - 28 minutes - 11.8 MBHome prices were up over 20% year on year in April. Meanwhile, people are flipping houses at the highest pace since 2000. But that trend may slow as mortgage rates and labor costs continue to climb, cutting into profits. Also in today’s episode: the proposed cap on Russian oil prices, Old Navy’s struggles with inclusive sizing and a Connecticut law limiting “captive audience” anti-union meetings. Your donation powers the journalism you rely on. Give today to support Marketplace.
Employers are adding abortion travel benefits, but many workers are still left out
June 27, 2022 23:43 - 28 minutes - 11.8 MBA growing list of employers will offer a new benefit: covering expenses for out-of-state abortion care. But existing benefits, like paid family or sick leave, already splinter along race and class divides, and these new benefits are unlikely to reach those most likely to seek abortion care. Plus, assessing war’s damage to Russia’s economy and looking at the “narrow path ahead” for countries around the world to escape recession. Your donation powers the journalism you rely on. Give today to ...
Reproductive rights and the economic divide
June 24, 2022 23:30 - 27 minutes - 11.8 MBThe Supreme Court’s decision to overturn Roe v. Wade won’t just make abortions more expensive and difficult to access; it’s also expected to exacerbate economic disparities between people who can afford access to reproductive services and those who can’t. Today, a look at the ruling’s impact. Plus, a recap of Fed Chair Jerome Powell’s trip to Capitol Hill and companies’ evaluation of hybrid work. Your donation powers the journalism you rely on. Give today to support Marketplace.
Who’s hurt the most by a cooling job market?
June 23, 2022 22:55 - 27 minutes - 11.8 MBLow-paid workers have seen some of the biggest pay increases since the start of the pandemic. But those gains are already slowing as the Federal Reserve puts the brakes on the economy and cools the labor market. Today, we dig into the real-world consequences of the Fed’s decisions. Then, a reevaluation of credit card late fees, a potential moratorium on cryptocurrency mining and high inflation across the pond. Your donation powers the journalism you rely on. Give today to support Marketplac...
Is the pandemic over? Plenty of companies seem to think so.
June 22, 2022 23:13 - 28 minutes - 11.8 MBLet’s state the obvious: The pandemic is definitively not over. But plenty of larger companies are rolling back COVID restrictions and signaling the end is near. Today, we delve into how corporations make those decisions and how they shape the public’s pandemic mindset. Plus, the future of commission-free stock trading, the ripple effects of pilot shortages and the incarcerated youths who fight wildfires. Your donation powers the journalism you rely on. Give today to support Marketplace.
What are the odds of a recession?
June 21, 2022 22:40 - 28 minutes - 11.8 MBThe stakes are high for the Federal Reserve as it hikes interest rates in its effort to tame rising prices. Getting it wrong could spawn a recession. But different economists use different models to predict the likelihood, magnitude and timing of an economic downturn — so estimates are all over the map. Later on today’s show: a breakfast table breakup, competition among real estate agents and lessons from pandemic-era career shifts.
Why the wealth gap between Black and white Americans persists
June 20, 2022 22:42 - 27 minutes - 11.8 MBJuneteenth commemorates the day enslaved Black Texans were informed of the Emancipation Proclamation, though it was years late. While the emancipation from slavery is nearly 160 years old, the economic emancipation of Black Americans is ongoing. Today, we’ll take a look at the structural and legal barriers that have prevented Black Americans from building wealth and what can be done to correct it. Plus, the still-hot housing market and the shortage of summer school teachers.
The Putin-price-pump-pain thing is bolstering the case for remote work
June 17, 2022 22:39 - 27 minutes - 11.8 MBAfter delta and omicron, employers’ return-to-office plans have run into another hurdle: the price of gas. Plus, how the Federal Reserve is letting an “unsustainably hot” job market cool off; and Raphael Bostic, head of the Atlanta Fed, tells us he understands that inflation is “going to weigh on your psyche.”
Even if the U.S. escapes a recession, other economies may not be as lucky
June 16, 2022 23:12 - 28 minutes - 11.8 MBRising prices are a problem around the world, and dozens of central banks are hiking interest rates in response. Today, we delve into the global forces driving inflation and look at the countries most vulnerable to higher interest rates and recessions. Later in the program: a housing market that may be cooling, a patent system that irks inventors and rising costs that challenge schools’ creditworthiness.
Decades-high inflation gets a decades-high rate hike
June 15, 2022 23:15 - 28 minutes - 11.8 MBToday, the Federal Reserve hiked its key interest rate by three-quarters of a percentage point — the biggest increase since 1994. The move will come with some pain for consumers as the Fed tries to slow the economy and get Americans to spend less. But, if retail sales offer any insight, that may already be happening. Plus, an oil demand forecast and a new Department of Education position.
Pandemic savings drove inflation, now inflation is draining savings
June 14, 2022 23:30 - 28 minutes - 11.8 MBThe savings rate has plummeted since the height of the pandemic as Americans grapple with rising costs. Thing is, that pandemic stockpile of cash — when coupled with janky supply chains — helped fuel inflation in the first place. Today we dig into that relationship. Plus, another crypto winter, the state of Gen Z’s finances and the connection between unfilled jobs and unemployment.
The Fed’s “soft landing” is looking bumpy
June 13, 2022 23:29 - 27 minutes - 11.8 MBThe economic word of the day is … “ouch.” The S&P 500 entered bear market territory as the Dow Jones Industrial Average shed almost 900 points. Meanwhile, inflation remains at a 40-year high while consumer sentiment is in the toilet. On today’s program, we’ll dig into recessionary fears and rate hike expectations ahead of tomorrow’s Federal Reserve meeting. We’ll also unpack the new bipartisan gun control framework and preview a post-inflation economy.